Seeking Alpha

Bill Barrett in $371M asset sale

  • Bill Barrett (BBG) agrees to sell its West Tavaputs natural gas property in Utah's Uinta Basin in a $371M deal.
  • BBG says it is pleased with the value received (5.6x cash flow) and now expects to exit 2013 with a production split ~40% oil.
  • BBG expects to record ~$200M in non-cash impairment charges in Q3 associated with the sale.
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